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07 September 2023

Washington Dispatch for August 2023

The latest edition of EY's Washington Dispatch is attached below. Prepared by Ernst & Young's International Tax and Transaction Services group, this monthly newsletter summarizes recent developments in US international taxation. Highlights of this month's edition include:

Legislation

US Congress to take up appropriations bills, consider US-Taiwan tax relationship

IRS news

IRS proposes updating regulations on consolidated returns, discarding unnecessary guidance

  • IRS issues proposed regs on broker reporting requirements for digital asset sales and exchanges

  • Cryptocurrency stakers must include rewards in gross income upon gaining control

    Tax treaties

    Russia suspends US-Russia, other tax treaties

    OECD developments 

    Progress reported on BEPS Amount A, Pillar One, further work on Pillar Two safe harbors

  • Global minimum tax filing simplification possible, OECD official says

    United Nations

    UN releases final report on international tax cooperation

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    ATTACHMENT

    Washington Dispatch for August 2023

    Document ID: 2023-5606

     
     

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